Business Performance - Financial Highlights First Quarter 2019
In the first quarter, new cloud bookings were up 32% (26% at constant currencies). Cloud revenue grew 45% year over year to €1.56 billion (IFRS), up 48% (non-IFRS) and 41% (non-IFRS at constant currencies). Software license revenue was up 4% year over year to €650 million (IFRS), up 4% (non-IFRS) and 1% (non-IFRS at constant currencies). New cloud and software order entry was up 17% (13% at constant currencies) year over year in the first quarter. Cloud and software revenue grew 16% year over year to €5.04 billion (IFRS), up 16% (non-IFRS) and 12% (non-IFRS at constant currencies). Total revenue grew 16% year over year to €6.09 billion (IFRS), up 16% (non-IFRS) and 12% (non-IFRS at constant currencies).
SAP’s rapidly expanding cloud business together with solid growth in support revenue continued to drive the share of more predictable revenue, which grew by one percentage point year-over-year to 72% in the first quarter.
As previously indicated, the IFRS operating profit in the first quarter was impacted by recognizing the expected cost of SAP’s 2019 restructuring (€886 million) as well as higher acquisition-related charges and share-based compensation primarily due to the Qualtrics acquisition.
This resulted in an IFRS operating loss of -€136 million (Q1 2018: operating profit of €1,025 million). In contrast, Non-IFRS profit was up 19% at €1,467 million (up 13% at constant currencies). Earnings per share were -€0.10 (IFRS) (Q1 2018: €0.59) and up 24% at €0.90 (non-IFRS). Operating cash flow for the first three months was €2.80 billion, up 9% year-over-year. Free cash flow increased 10% year-over-year to €2.37 billion. At the end of the first quarter, net liquidity was -€6.19 billion. Segment Performance First Quarter 2019
SAP’s three reportable segments “Applications, Technology & Services”, “Business Network” and “Customer and Experience Management” showed the following performance.
Applications, Technology & Services (AT&S)
In the first quarter, segment revenue in AT&S was up 12% to €4.99 billion year-over-year (up 9% at constant currencies).
SAP S/4HANA
SAP S/4HANA is at the core of the Intelligent Enterprise. With S/4HANA, customers automate more and more of their business processes
enabling employees to focus on higher-value tasks. It detects patterns, predicts outcomes and suggests actions empowering companies
across all industries to reinvent their business models for the digital economy.
This quarter, SAP S/4HANA Cloud was named as a Leader in The IDC MarketScape: Worldwide SaaS and Cloud-enabled Operational ERP
Applications 2019 Vendor Assessment. IDC recognizes SAP S/4HANA Cloud as an intelligent ERP that enables various business processes such as idea to design, procure to pay, plan to production, order to cash, offer to project, and core finance.
S/4HANA adoption grew to more than 10,900 customers, up 30% year over year. In the first quarter, over 40% of the additional S/4HANA
customers were net new.
View the complete Q1 results at: https://www.sap.com/docs/download/investors/2019/sap-2019-q1-statement.pdf
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